• The Price of Gold Gained $11.00 this week Closing at $1,178.80

    5-Jun-15 12-Jul-15 Change % Change
    Gold Price, $/oz. 1,167.80 1,178.80 11.00 0.9
    Silver Price, $/oz. 15.971 15.818 0.153 -1.0
    Gold/Silver Ratio 73.120 74.523 1.403 1.9
    Silver/gold ratio 0.0137 0.0134 -0.0003 -1.9
    Dow in Gold $ (DIG$) 315.96 313.88 -2.08 -0.7
    Dow in gold ounces 15.28 15.18 -0.10 -0.7
    Dow in Silver ounces 1,117.62 1,131.55 13.93 1.2
    Dow Industrials 17,849.46 17,898.84 49.38 0.3
    S&P500 2,092.83 2,094.11 1.28 0.1
    US dollar index 96.36 94.99 -1.37 -1.4
    Platinum Price 1,091.30 1,096.30 5.00 0.5
    Palladium Price 750.40 738.15 -12.25 -1.6

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    The GOLD PRICE slipped $1.10 to $1,178.80 on Comex. SILVER lost 13.5 cents to $15.818.

    Today is a day that says nothing. No clue. Everybody’s holding his breath over Greece. Whichever way it comes down it will occasion big moves at first. Not lasting moves, of course, because nothing will be fixed, nothing will be changed, only the banks will be fed. It’s like that movie Groundhog Day where we are doomed to replay these crises over and over and over. Difference is, in the real world here there’s no enlightenment, no purgation, no redemption, only the eternal tapeworm, back every morning to feed on us anew.

    GOLD/SILVER RATIO ended at 74.523, it’s highest level for this move. Could go higher.

    Right now, we are just enduring. Taking every blow and walking on down the road, because you can’t lie down and die. Silver and GOLD PRICES will come back: the central banks and governments guarantee it, because they never learn and never change.

    Scorecard seems to gainsay what we suffered through this week, but there ’tis. The gold price actually rose 0.9% while silver fell 1%, but in fact they didn’t do much of anything. Stocks ended the week 50 points higher, after blasting up 280 points higher one day, then losing it all. US dollar index proved its intent to drop, and white metals contradicted each other.

    The Greek government debt crisis overhangs all with shadows of gloom and dread. If Greece defaults, stocks will tank and bonds will rise, and the hurtin’ will become gen’ral real quick. To make matters worse, there’s an FOMC meeting next week hanging over the market like a wet blanket, too.

    Hardly a varmint stirred in the currency markets today — nobody wants to go home long or short anything, not know what might happen over the weekend with Greece. US dollar index rose four basis pointes to 94.99, ending the day a little lower than it began. Euro millimetered up 0.01% to $1.1260, while the yen rose 0.06% to 81.05. Greek default would cream the euro and boost the dollar.

    Dow shot up 236.36 Wednesday on false rumors the Greek crisis was near settlement. Inertia shoved it up another 39 on Thursday, but today it lost 140.53 (0.78%) to 17,898.84 — back near where it began the week.

    Let me say it again: stocks are rolling over. Downward. Toward earth’s core.

    Dow in gold hooked down this week, ended at G$313.80 gold dollars (15.18 oz). Dow in silver needed at S$1,462.37 silver dollars (1,131.05 oz). Just waiting for the gator jaws finally to snap shut.

    Y’all enjoy your weekend.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger

    © 2015, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold’s primary trend is up, targeting at least $3,130.00; silver’s primary is up targeting 16:1 gold/silver ratio or $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

    WARNING AND DISCLAIMER. Be advised and warned:

    Do NOT use these commentaries to trade futures contracts. I don’t intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.

    NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.

    NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.

    NOR do I recommend buying gold and silver on margin or with debt.

    What DO I recommend? Physical gold and silver coins and bars in your own hands.

    One final warning: NEVER insert a 747 Jumbo Jet up your nose.

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